Colour Gro Limited 31/12/2024 iXBRL

Company registration number: 04321091

Colour Gro Limited

Unaudited filleted financial statements

For the year ended

31 December 2024

Colour Gro Limited

Contents

Statement of financial position

Notes to the financial statements

Colour Gro Limited

Statement of financial position

31 December 2024

		2024		2023
	Note	£	£	£	£

Fixed assets
Tangible assets	3	394,273		445,171
Investment property		-		-
		_______		_______
			394,273		445,171

Current assets
Stocks		560,480		573,580
Debtors	4	174,269		135,553
Cash at bank and in hand		-		16
		_______		_______
		734,749		709,149
Creditors: amounts falling due
within one year	5	( 512,415)		( 427,952)
		_______		_______
Net current assets			222,334		281,197
			_______		_______
Total assets less current liabilities			616,607		726,368

Creditors: amounts falling due
after more than one year	6		( 354,072)		( 455,551)

Provisions for liabilities			( 46,419)		( 53,299)

			_______		_______
Net assets			216,116		217,518
			_______		_______

Capital and reserves
Called up share capital			1,002		1,002
Profit and loss account			215,114		216,516
			_______		_______
Shareholders funds			216,116		217,518
			_______		_______

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 29 August 2025 , and are signed on behalf of the board by:

Mr D K Beadsmoore

Director

Company registration number: 04321091

Colour Gro Limited

Notes to the financial statements

Year ended 31 December 2024

1. Accounting policies

Basis of preparation

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied with the same financial statements.

The financial statements have been prepared under the historical cost convention in accordance with the accounting policies set out below. These financial statements have been prepared in accordance with FRS 102, section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Turnover

Turnover represents the amount derived from the provision of goods after the deduction of trade discounts and value added tax.

Tangible assets

Tangible fixed assets are included at cost less depreciation.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Short leasehold property	-	Straight line over the life of the lease or 20 years
Plant and machinery	-	10 %	reducing balance
Fittings fixtures and equipment	-	20 %	reducing balance
Motor vehicles	-	20 %	reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Provisions

Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for fixed asset investments which are measured at fair value, with changes recognised in the fair value reserve.

Basic financial instruments are recognised at amortised cost.

Defined contribution plans

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in comprehensive income when due.

2. Employee numbers

The average number of persons employed by the company during the year amounted to 35 (2023: 35 ).

3. Tangible assets

	Short leasehold property	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 January 2024	340,740	1,421,340	36,313	352,245	2,150,638
Additions	-	13,750	-	-	13,750
	_______	_______	_______	_______	_______
At 31 December 2024	340,740	1,435,090	36,313	352,245	2,164,388
	_______	_______	_______	_______	_______
Depreciation
At 1 January 2024	219,357	1,301,116	28,965	156,029	1,705,467
Charge for the year	10,541	13,392	1,471	39,244	64,648
	_______	_______	_______	_______	_______
At 31 December 2024	229,898	1,314,508	30,436	195,273	1,770,115
	_______	_______	_______	_______	_______
Carrying amount
At 31 December 2024	110,842	120,582	5,877	156,972	394,273
	_______	_______	_______	_______	_______
At 31 December 2023	121,383	120,224	7,348	196,216	445,171
	_______	_______	_______	_______	_______

4. Debtors

	2024	2023
	£	£
Trade debtors	30,255	13,461
Other debtors	144,014	122,092
	_______	_______
	174,269	135,553
	_______	_______

5. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	194,445	208,820
Trade creditors	220,437	121,770
Taxation and social security	24,135	28,478
Other creditors	73,398	68,884
	_______	_______
	512,415	427,952
	_______	_______

The bank overdraft and loans are secured by a fixed and floating charge over the company's assets. The finance leases are secured on the assets concerned.

6. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	302,165	365,798
Other creditors	51,907	89,753
	_______	_______
	354,072	455,551
	_______	_______

The bank loans outstanding at the year end includes instalments due after more than five years of £59,811 (2023 - £81,424). These loans are secured by a fixed and floating charge on the assets of the company. The finance leases and hire purchase contracts are secured on the assets concerned.

7. Pension commitments

The company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held seperately from those of the company in an independently administered fund. At the balance sheet date, unpaid contributions of £1,173 (2023 - £1,204) were due to the fund. They are included in other creditors.

8. Directors advances, credits and guarantees

During the year the company made advances to Mr D K Beadsmoore , a director, totalling £29,789 (2023 - £24,690) No repayments were made by 31 December 2024 and so the balance outstanding at the year end, 31 December 2024 was £115,278 (2023 - £85,489). Where applicable, interest is charged on overdrawn loan accounts at the rate of 2.25% per annum loans are repayable on demand.

9. Related party transactions

Interest charged to directors and connected parties during the year ended 31 December 2024 amounted to £1,892 (2023- £1,354)